Interesting details on Fvres contract

[Patler]

NBC has suggested that it points out cash problems in Minnesota:


The Brett Favre contract technically is a two-year, $25 million deal. Though it's unlikely that he'll receive any of the money that he's due to earn in 2010, he actually will be receiving large chunks of the money he'll earn over the next several months in both 2010 and 2011.

Per a league source, Favre's $12 million base salary for the 2009 season will be paid out in three ways. He'll receive $4 million in the form of periodic paychecks during the upcoming season. He'll also receive lump sums of $4 million in March 2010 and another $4 million in 2011.

[CaptainKickass]

Looks like if MN is in for a penny, they're in for a pound.

I'm ALL for the Vikes mortgaging their future and financially strapping the franchise for years to come by making this move along with any others they feel are necessary in their "All in" approach to this season.

Cilly's on the hot seat. Desperate men make desperate moves,


.

[Scott Campbell]

Looks like if MN is in for a penny, they're in for a pound.

I'm ALL for the Vikes mortgaging their future and financially strapping the franchise for years to come by making this move along with any others they feel are necessary in their "All in" approach to this season.

Cilly's on the hot seat. Desperate men make desperate moves,


.


With any luck, Favre may impact their ability to sign guys like AP.

[sheepshead]

Looks like they brought the circus to town for a fund raiser.

[hoosier]

How do we know this is a sign of cash flow problems and not just ownership's way of retaining interest-generating principle over the next 24 months while making Favre's contract look good?

[pbmax]

How do we know this is a sign of cash flow problems and not just ownership's way of retaining interest-generating principle over the next 24 months while making Favre's contract look good?
Because of future value. Favre, almost certainly, got more dollars that he would have because the value of the deal would have been reduced by a future value calculation. Bus Cook would have taken those deferred payments and calculated how much Favre would lose by not having access to the money right away.

Ziggy will collect interest, but he will pay a premium for the right to defer the payments. Zero sum.

[Scott Campbell]

How do we know this is a sign of cash flow problems and not just ownership's way of retaining interest-generating principle over the next 24 months while making Favre's contract look good?


What interest? If you know of a bank that's paying any, I'd love to hear about it.

[KYPack]

Straight into his retirement program.

He notices his is light, too, eh?

[Rastak]

NBC has suggested that it points out cash problems in Minnesota:


The Brett Favre contract technically is a two-year, $25 million deal. Though it's unlikely that he'll receive any of the money that he's due to earn in 2010, he actually will be receiving large chunks of the money he'll earn over the next several months in both 2010 and 2011.

Per a league source, Favre's $12 million base salary for the 2009 season will be paid out in three ways. He'll receive $4 million in the form of periodic paychecks during the upcoming season. He'll also receive lump sums of $4 million in March 2010 and another $4 million in 2011.


Looks like the Broncos, Cardinals and Falcons have cash problems also.....


http://profootballtalk.nbcsports.com/2009/08/19/more-teams-push-base-salary-into-future-years/

[MadScientist]

NBC has suggested that it points out cash problems in Minnesota:


The Brett Favre contract technically is a two-year, $25 million deal. Though it's unlikely that he'll receive any of the money that he's due to earn in 2010, he actually will be receiving large chunks of the money he'll earn over the next several months in both 2010 and 2011.

Per a league source, Favre's $12 million base salary for the 2009 season will be paid out in three ways. He'll receive $4 million in the form of periodic paychecks during the upcoming season. He'll also receive lump sums of $4 million in March 2010 and another $4 million in 2011.


Looks like the Broncos, Cardinals and Falcons have cash problems also.....


http://profootballtalk.nbcsports.com/2009/08/19/more-teams-push-base-salary-into-future-years/
I wonder if the teams are trying to push things to the uncapped year to justify keeping spending low, and the lockout year where teams will get network money without having to pay the players.

[HarveyWallbangers]

Looks like the Broncos, Cardinals and Falcons have cash problems also.....

Actually, three of the four teams mentioned are some of the lowest revenue teams in the league. Not sure about the Broncos anymore though. Who knows really. I wouldn't be surprised if the Vikings had money issues and wanted to push some of the payouts to when they'll likely be groundbreaking a new stadium. The Vikings really do have a terrible deal with the Metrodome. Then again, the owners are rich and should pay more than most do to build stadiums (and fatten their pocketbooks).

[Rastak]

Looks like the Broncos, Cardinals and Falcons have cash problems also.....

Actually, three of the four teams mentioned are some of the lowest revenue teams in the league. Not sure about the Broncos anymore though. Who knows really. I wouldn't be surprised if the Vikings had money issues and wanted to push some of the payouts to when they'll likely be groundbreaking a new stadium. The Vikings really do have a terrible deal with the Metrodome. Then again, the owners are rich and should pay more than most do to build stadiums (and fatten their pocketbooks).


Word is the Bucs have some serious cash issues....maybe the Jags too.

[mraynrand]

Sounds like they bought Favre the same way I bought my fridge - no payments for 9 months... And Favre is about as cold and rigid too.

[Scott Campbell]

Sounds like they bought Favre the same way I bought my fridge - no payments for 9 months... And Favre is about as cold and rigid too.


Are you buying your fridges at Goodwill? Otherwise wouldn't he be the old one that they hauled away to the dump for free?

[SMACKTALKIE]

Looks like the Broncos, Cardinals and Falcons have cash problems also.....

Actually, three of the four teams mentioned are some of the lowest revenue teams in the league. Not sure about the Broncos anymore though. Who knows really. I wouldn't be surprised if the Vikings had money issues and wanted to push some of the payouts to when they'll likely be groundbreaking a new stadium. The Vikings really do have a terrible deal with the Metrodome. Then again, the owners are rich and should pay more than most do to build stadiums (and fatten their pocketbooks).

Iff the Vikings have money problems it is due to revenue and not a cap situation. The Vikings have one of the best capologists in the NFL in Brezinski.

[Patler]

Looks like the Broncos, Cardinals and Falcons have cash problems also.....

Actually, three of the four teams mentioned are some of the lowest revenue teams in the league. Not sure about the Broncos anymore though. Who knows really. I wouldn't be surprised if the Vikings had money issues and wanted to push some of the payouts to when they'll likely be groundbreaking a new stadium. The Vikings really do have a terrible deal with the Metrodome. Then again, the owners are rich and should pay more than most do to build stadiums (and fatten their pocketbooks).

Iff the Vikings have money problems it is due to revenue and not a cap situation. The Vikings have one of the best capologists in the NFL in Brezinski.

I don't think anyone suggested it was a cap problem. Besides, apparently the Favre deal puts the whole 2009 salary into the 2009 cap anyway, even though he won't receive much of it until later.

[Scott Campbell]

I know they're bringing him mostly because they think he'll help the team. But I wonder how much Favre's carnival sideshow value played into the decision.

[Patler]

I know they're bringing him mostly because they think he'll help the team. But I wonder how much Favre's carnival sideshow value played into the decision.

I think quite a bit. They're selling tickets rapidly.

[Rastak]

I know they're bringing him mostly because they think he'll help the team. But I wonder how much Favre's carnival sideshow value played into the decision.

I think quite a bit. They're selling tickets rapidly.


Agree, it was both. Win/Win if they are correct in that he can run their offense better than the two guys they had penciled in.

[MJZiggy]

Wonder how long ticket sales hold if he starts the season cold.

[mraynrand]

Sounds like they bought Favre the same way I bought my fridge - no payments for 9 months... And Favre is about as cold and rigid too.


Are you buying your fridges at Goodwill? Otherwise wouldn't he be the old one that they hauled away to the dump for free?

I got a great deal
http://www.flamingbear.ca/blog/wp-content/uploads/2007/07/rnFridge2.jpg

[pasquale]

Thank god it came with a thermometer :lol:

That might actually a good idea for a smoker though...maybe...

[Chubbyhubby]

Should be an interesting team to watch. I personally hope Rodgers shows him up and win both games in blow out fasion.

[Merlin]

Well, the Vikings can finally say they "sold out a game" and not be lying about it. I think the revenue that Favre generates for the Vikings will be more than enough to pay his contract out over how ever many years.

I do hope Rodgers out performs him and I do hope we blow the Vikings out. I also hope we have an offensive line that can keep Rodgers healthy enough to do both. Almost lost Rodgers last season, hate to say it, our line hasn't improved yet.

[Fritz]

Looks like the Broncos, Cardinals and Falcons have cash problems also.....

Actually, three of the four teams mentioned are some of the lowest revenue teams in the league. Not sure about the Broncos anymore though. Who knows really. I wouldn't be surprised if the Vikings had money issues and wanted to push some of the payouts to when they'll likely be groundbreaking a new stadium. The Vikings really do have a terrible deal with the Metrodome. Then again, the owners are rich and should pay more than most do to build stadiums (and fatten their pocketbooks).


Word is the Bucs have some serious cash issues....maybe the Jags too.

Hah! I knew they shouldn't have brought in them new teams in them weird places like Florda and Keerolina. Shoulda kept football where it belonged - in the north and midwest with a team or two in that hippie state out west.

And bring back the fourteen game schedule, too!

[Pugger]

Looks like they brought the circus to town for a fund raiser.

:rs: :lol:

[HowardRoark]

I think they are pushing the payments out to when the lease on the Dome ends...that way they can use the windfall from L.A. to pay off Favre. Nice shell game these carpetbaggers have going up here.